Alternative Product Controller - DEL
- Not Specified
- Wilmington, DE, USA Wilmington DE US
- Permanent, Full time
- 16 Jun 18 2018-06-16
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of March 31, 2018, the firm managed approximately $6.317 trillion in assets on behalf of
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of March 31, 2018, the firm managed approximately $6.317 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.
Global Accounting and Portfolio Services
Alternative Product Oversight
Technology & Operations
The Global Accounting and Product Services team (GAAPS) is a division of BlackRock's Business Operations & Technology Group. This group is responsible for product (institutional account and commingled funds) accounting, portfolio & regulatory compliance, strategic fund conversions, board management, financial reporting and operational oversight for BlackRock's commingled funds (registered and unregistered). In addition, the teams also support KYC onboarding/client documentation, investment accounting and vendor oversight. The Global Alternatives Operations team within GAAPS supports these functions for BlackRocks's alternative investment products.
We are looking to add a Director to our Alternatives Operations team to serve as the financial controller for a new flagship, multi-billion dollar alternative investment product that is being launched by the firm. The Alternatives Operations team oversees the accounting, reporting and administration for various closed-end and hybrid alternative investment products, and interacts with 3rd party service providers and internal functions such as portfolio management, operations, legal and compliance and tax to ensure the fund’s financial operations are properly recorded and reported.
• Accountable for end-to-end administration, accounting and financial reporting oversight for the fund and related investment entities performed by a 3rd party administrator;
• Assist with engagement and ongoing oversight of the fund administrator in accordance with agreed upon terms and service levels;
• Review accounting packages prepared by the administrator for accuracy and completeness as part of the NAV close process for the fund;
• Ensure all NAV, investor reporting and financial reporting deliverable deadlines are met;
• Perform reviews of periodic financial statements prepared by the fund administrator to ensure accuracy, completeness and compliance with GAAP, IFRS or other applicable accounting framework;
• Review investor allocations, as well as management and performance fee calculations for the fund;
• Provide oversight and coordination of year-end audits performed by independent audit firm;
• Represent the Alternatives Operations team in operational due diligence meetings with existing and prospective clients and assist with preparation or materials;
• Ensure fund accounting and reporting is in compliance with core legal documents (e.g. LPA, PPM, side letters, etc.);
• Assist with design of internal control framework and operational support model for the fund prior to launch;
• Research, document and implement new accounting releases that affect the fund;
• Assist with review and approval of fund operating expenses;
• Assist with coordination of regulatory filings required by Dodd-Frank, AIFMD, MIFID or other applicable regimes;
• Participate in management committee, investment committee, valuation committee and/or board meetings, as necessary;
• Respond to ad hoc requests from investors and other BlackRock groups.
The ideal candidate will have at least 12+ years’ experience in accounting, administration or auditing alternative investment products. CPA designation is a plus.
In addition, the ideal candidate will have the following qualifications:
• Strong accounting knowledge of both liquid financial instruments and alternative private investments including those focused in private equity, credit, real estate, infrastructure and opportunistic strategies;
• Experience with accounting and operations for complex, multi-tiered fund structures including master-feeder funds, parallel fund structures, tax blockers and other special purpose vehicles used for private investments;
• Strong understanding of accounting risks and controls and ability to drive enhancements and efficiencies in oversight processes;
• Proficient in understanding of U.S. GAAP and IFRS reporting for private investment funds;
• Experience reviewing valuation models for private investments;
• Prior experience managing or driving tactical or strategic projects around fund operations (e.g. conversions, data migrations, process changes, etc.);
• Strong written and oral presentation skills including the ability to communicate clearly and confidently to senior management and investment professionals;
• Strong analytical abilities and attention to detail;
• Ability to effectively manage multiple initiatives and deadlines;
• Proficient Excel and macro skills.
Above all, the candidate must possess initiative and creativity, and be able to effectively direct and supervise internal and external partners to achieve desired goals.
BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
BlackRock will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the law, including any applicable fair chance law.